Dec 27, 2012 7:00am PST
of urgency if we fail to avoid the fiscal cliff, go over it and the markets react badly to it. right now people want us to come together in a bipartisan way. the absolute has to be bipartisan in the house. we've seen that in the last week. not even plan b, which is an unreasonable alternative to the too,000 threshold was able to garner a majority in the house of representatives. the speaker can't sell it to his own party, so i think he has to craft a bipartisan solution one way or the other, put aside the politics here. the nation's economic will suffer. >> should it come from the senate or from the house? >> i don't think it matters where it originates, but the point is the senate has already passed a bill that represents a reasonable compromise. extend the 250 -- the tax cuts for all incomes up to $250,000, and everybody would benefit on that first $250,000 of income. that it not only protects the middle class against huge tax increases on january 1, but also benefits many americans making more than 1250,000, because they will see the tax cut extended on their first $250,000 in income.
Dec 26, 2012 7:00am PST
, but we're also reading they're taking a step back right now on the very issue of the debate of the fiscal cliff. is it really the tea party congress members or not? >> i think it's hard to predict exactly who might get blamed if something doesn't happen. that seems too far in the future for me but if you look at all of the piece that is are in play, the one thing we haven't talked about is the debt limit. it is going to be hit soon. and then the treasury can use extraordinary measures to extend it but caused the fight that made us sit here today to talk about the quote/unquote fiscal cliff and the republican haves the boehner rule to ask for a dollar in cut for every dollar the limit is extended. the debt limit being money that we have paid and obligation to pay. and so, if democrats and republicans aren't come together now, and a month and a half from now republicans come back to the table and say we need more cuts, i don't know what the president is going to look to to cut. seems like a complicated mess that they have on their hands and the more clarity they get now, the easier it's goi
Dec 31, 2012 7:00am PST
watching and hoping for the best. chris? >> bob bazell, thanks so much. we'll be right back with congresswoman barbara lee. stay with us. >>> the senate is scheduled to get back to work and avoid the fiscal cliff 45 minutes from now. president obama will be watching with the rest of country for a deal to be hammered out. he thinks republican leaders need to bend. >> congress has not been able to get this stuff done not because democrats in congress don't want to go ahead and cooperate but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit and as part of an overall deficit reduction package. >> i'm joined by congresswoman barbara lee a democrat from california. good to see you. good morning. >> good to see you. glad to be with you. >> let me give you the republican perspective. it is that some indications they are willing to give on taxes whether 400 or 450,000, that yesterday they floated this idea of changing social security. they've backed off on that. t